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    The Largest CRE Database in the US with Over 1 Million Listings

    2294 E 40 Us Lewisburg, OH 45338

    Sponsored
    For Sale
    $494,900

    Agriculture - Lewisburg, OH

    Type:Agriculture
    Property size:
    1,964 SF
    Lot size:
    20.01 Acres
    Days on Market:
    45
    Last Refresh:
    Jan 24 at 3:06 pm

    Property Features for 2294 E 40 Us

    General Information

    Property type
    Farm
    Property subtype
    Agriculture
    Standard status
    Active
    Zoning
    Agricultural
    Rooms
    Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Family Room, Kitchen, Living Room
    Bedrooms
    4
    Bathrooms
    1
    APN
    D14733020000009000
    Parking
    1
    Parking features
    Garage
    Patio and Porch features
    Patio, Porch
    Interior features
    Ceiling Fans, Kitchen Family Room Combo, Remodeled, Walk In Closets
    Exterior features
    Porch, Patio
    Appliances
    Dryer, Range, Refrigerator
    Size
    1,964 SF
    Lot size
    20.01 Acres

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Natural Gas
    Cooling system
    Central Air
    Water source
    Well

    Building Details

    Year built
    1920
    Building materials
    Frame, Vinyl Siding
    Architectural style
    Other

    We can help!

    Listing Contact
    Noel C Morris

    eXp Realty LLC (866) 212-4991

    Listing agent Noel C Morris (866) 212-4991 License #2014001119

    Listing date Dec 11, 2025

    MLS# 943241 Listing URL

    Copyright © 2026 Dayton Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Lewisburg Homestead with 20 Acres

    This bungalow-style home, situated on 20 acres in Lewisburg, OH, is ideal for a homestead or mini-farm. The property includes a pond and offers nearly 2,000 sq ft of living space, featuring 4 bedrooms and 1 bath. The interior has been freshly painted in neutral tones, with new carpeting and hardwood floors underneath. Solid antique wood doors are present throughout the home. The family room includes archways and a tray ceiling. The updated eat-in kitchen features fresh paint, new countertops, and a stylish backsplash. Appliances, including a refrigerator and stove, are included. The bathroom has been completely updated. There are two bedrooms on the main level, one with a walk-in closet, and two bedrooms on the upper level with a landing/sitting room in between. The full basement provides easy access to mechanicals and includes a canning/storage room measuring 17 x 3. A washing machine and dryer are also included. Major mechanical updates were completed in 2021, including the A/C, furnace, electric panel, water heater, well pressure tank, and water softener. Exterior features include a large covered front porch, an enclosed porch (20 x 9), and a covered back porch, all offering scenic views. Outbuildings include an oversized 1-car detached garage with a new roof and siding, and two freshly painted barns, as well as a foundation to add another structure. The 20-acre property is currently farmed and enrolled in CAUV, providing agricultural benefits. The property also includes a private pond surrounded by mature trees.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Map

    City
    Lewisburg
    County
    Preble
    State
    Ohio
    Longitude
    -84.584728
    Latitude
    39.851071

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    FAQs

    What type of property is this?
    Farm - Bungalow home on 20 acres, perfect for mini-farm.
    Where is this farm located?
    The property is located at 2294 E 40 Us Lewisburg, OH.
    What is the asking price?
    The asking price for this property is $494,900.
    What are key features of this property?
    This property features: - 20 Acres with Pond: Ideal for homesteading, recreation, or enjoying a serene, private retreat.; - Major Mechanical Updates (2021): Includes new A/C, Furnace, Electric Panel, Water Heater, Well Pressure Tank, and Water Softener for peace of mind.; - Updated Eat-In Kitchen and Bath: Features fresh paint, new countertops, stylish backsplash, and completely updated bath.
    (866) 212-4991
    Request Owner's contact information
    2294 E 40 Us Lewisburg, OH 45338
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    Lewisburg, OH 45338
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2294 E 40 Us Lewisburg, OH 45338
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    We can help!
    Listing Contact
    Noel C Morris
    Real Estate License ID: 2014001119
    (866) 212-4991
    Learn more
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